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Fly News Breaks for March 3, 2020
NKE
Mar 3, 2020 | 07:21 EDT
UBS analyst Jay Sole lowered the firm's price target on Nike to $123 from $136 but keeps a Buy rating on the shares. The analyst cites the company's warning on February 4th about the impact of coronavirus on its China sales and he lowers his FY20 EPS view to $2.73 from $3.10 as well as his FY21 view to $3.30 from $3.60. Sole believes however that Nike can resume its high-teen earnings growth after the company recovers from the outbreak, anticipating a rebound to come in the second half of FY21.
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